January 28, 2023

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Investors track profits and geopolitical tensions

Investors track profits and geopolitical tensions

LONDON – European stocks were mixed on Thursday as investors continued to monitor geopolitical tensions in Eastern Europe, while digesting a slew of corporate earnings reports.

pan europe Stokes 600 The index was hovering around a flat line in early trading, with autos up 0.9%, while oil and gas stocks fell 1%.

It was a busy morning in Europe, with AirbusAnd NestleAnd Standard CharteredAnd CommerzbankAnd orangeAnd Reckitt BenckiserAnd Schneider Electric And keyring Among these reports.

Commerzbank made better than expected net profit In the fourth quarter despite undergoing major strategic overhauls, it provided positive guidance for 2022. Shares of the German lender are up 4.7% in early trading.

Dutch engineering company Arcadis French luxury goods company Kering is up 7% and 6%, respectively, after reports of strong fourth-quarter earnings.

Swedish software company in the tail of the European premier index cinch It fell 11% after fourth-quarter results.

the On Wednesday, the United States accused Russia of adding 7,000 troops to the 150,000 already stationed on the Ukrainian border, described as “pseudo” The Kremlin claims it has begun a partial withdrawal of its military presence.

European markets have been attuned to developments in Ukraine in recent days, selling sharply on Monday as a Russian invasion looked imminent. The meeting of NATO defense ministers concluded in Brussels on Thursday.

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Global investors are also interacting with Minutes of the last meeting of the US Federal Reservepublished on Wednesday, which showed officials had plans in place to raise interest rates and unload trillions of dollars of bonds on the central bank’s balance sheet.

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Stocks in Asia Pacific It was mixed overnight as investors monitored the geopolitical situation, while US stock futures It fell slightly, with earnings and Fed policy expectations also on the agenda.

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